DataGuard has secured $61 million.

DataGuard has secured $61 million in a Series B round of funding led by Morgan Stanley Expansion Capital.

DataGuard is a Munich-based startup that has inclined into the SaaS-based business model to provide privacy, information security and other data protection as a series of on-demand, cloud-based “as-a-service” tools to small and medium-sized businesses.

The startup continues to grow although it’s not disclosing it’s valuation. With more than 3,000 clients in more than 50 nations, it today serves over 40 million individual users, including clients, employees, and other stakeholders. The 1,000 consumers it had in 2020 are now tripled. DataGuard claims that revenues have increased by about 10 times in the past year, yet it does not provide particular revenue figures.

DataGuard offers a variety of solutions for privacy, information security, and compliance that can evaluate the many uses of data that an organisation makes. This information is analysed to determine whether a business is in compliance with various certifications and, if not, what needs to be done to become compliant.

The aim of DataGuard is that while larger businesses may have teams of in-house staff, including engineers, lawyers, and data scientists, working to monitor, implement, and adjust on organization’s data protection, privacy, and compliance policies, smaller businesses may have fewer resources but an equally challenging task to face. They’ve built this for civilians.

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Cello, in Munich, raised €2.3 million.